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. Directors' Listing
. Management
. Code of Conduct
. Organisation Co-ordinates
. Financial Highlights
. Annual Report 09-10
. Annual Report 10-11
. Clause 35
. Unclaimed Dividend List of Shareholders from 2002-03 to 2008-09
. PRESS RELEASE
. SHAREHOLDER COMMUNICATION

BOARD OF DIRECTORS 

 






Code Of Conduct For Directors/ Senior Management

Preamble:

All Directors and Senior Management must act within the bounds of the authority conferred upon them and with a duty to make and enact informed decisions and policies in the best interests of the Company and its shareholders.

With a view to maintain the high standards that the company requires, the following rules/ code of conduct should be observed in all activities of the Board. The Company appoints the Company Secretary as a Compliance Officer for the purposes of the code, who will be available to directors and senior management to answer questions and help them comply with the code.

1. Honesty & Integrity:

All directors and senior management shall conduct their activities, on behalf of the Company and on their personal behalf, with honesty, integrity and fairness. All directors and senior management will act in good faith, responsibly, with due care, competence and diligence, without allowing their independent judgment to be subordinated. Directors and senior management will act in the best interests of the Company and fulfill the fiduciary obligations.

2. Conflict of interest:

Directors on the board of the Company and senior management shall not engage in any business, relationship or activity, which may be in conflict of interest of the Company or the group.

Conflicts can arise in many situations. It is not possible to cover every possible conflict situation and at times, it will not be easy to distinguish between proper and improper activity. The following are some of the common circumstances that may lead to a conflict of interest, actual or potential:

  • Directors and senior management should not engage in any activity/ employment that interferes with the performance or responsibility to the Company or is otherwise in conflict with or prejudicial to the Company.
  • Directors and senior management and their immediate families should not invest in a company, customer, supplier, developers or competitor and generally refrain from investments that compromise their responsibility to the Company.
  • Directors and senior management should avoid conducting company business with a relative or with a firm/ company in which a relative/ related party is associated in any significant role.

If such related party transaction is unavoidable, it must be fully disclosed to the Board or to the Chief Executive Officer of the Company.

3. Compliance:

Directors and senior management are required to comply with all applicable laws, rules and regulations, both in letter and in spirit. In order to assist the Company in promoting lawful and ethical behaviour, directors and senior management must report any possible violation of law, rules, regulation or the code of conduct to the Company Secretary.

4. Other Directorships:

The Company feels that serving on the boards of directors of other companies may raise substantial concerns about potential conflict of interest, and therefore, all directors must report/ disclose such relationships to the Board on an annual basis. It is felt that service on the Board of a direct competitor is not in the interest of the Company.

5. Confidentiality of information:

Any information concerning the company's business, its customers, suppliers etc. which is not in the public domain and to which the Director has access or possesses such information, must be considered confidential and held in confidence, unless authorized to do so and when disclosure is required as a matter of law. No director and senior management shall provide any information either formally or informally, to the press or any other publicity media, unless specially authorized.

6.Insider Trading:

Any director of the Company and senior management shall not derive benefit or assist others to derive benefit by giving investment advice from the access to and possession of information about the Company, not in public domain and therefore constituting insider information. All directors will comply with insider trading guidelines as issued by SEBI.

7. Gifts & Donations:

No director of the Company and senior management of the Company shall receive or offer, directly or indirectly, any gifts, donations, remuneration, hospitality, illegal payments and comparable benefits which are intended (or perceived to be intended) to obtain business (or uncompetitive) favours or decisions for the conduct of business. Nominal gifts of commemorative nature, for special events may be accepted and reported to the Board.

8. Protection of Assets:

Directors and senior management must protect the Company's assets, labour and information and may not use these for personal use, unless approved by the Board.

9. Customer Relationships:

The Directors and senior management must act in a manner that creates value for our customers and help to build a relationship based on trust. If their job puts them in contact with customers or potential customers, they must act in a manner befitting the representatives of the Company.

10. Government Relations:

It is the Company's policy to comply fully with all applicable laws and regulations governing contact and dealings with government employees and public officials, and to adhere to high ethical, moral and legal standards of business conduct. This policy includes strict compliance with all Central, local, State, federal, foreign and other applicable laws, rules and regulations..

11. Periodic Review:

Once every year or upon revision of this code, every director and senior management must acknowledge and execute an understanding of the code and an agreement to comply. New directors will sign such a deed at the time when their directorship begins and senior management at the time when their employment begins.

12. Waivers:

Any waiver of any provision of this Code of Business Conduct and ethics for a member of the Company's Board of Directors or an executive officer must be approved in writing by the Company's Board of Directors and promptly disclosed.

Registered Office
Universal Insurance Building,
3rd Floor Sir P.M, Road,
Fort, Mumbai - 400 001. INDIA
Tel Nos : +91 22 22851765 / 66 / 67
Fax No : 2288 4985

Email :

Company Secretary Mr. S Sridharan
Auditors Contractor, Nayak and Kishnadwala
Bankers Corporation Bank, Bank of India, HDFC Bank
Registrars & Transfer Agents 13 AB, Samhita Warehousing complex, 2nd Floor, Sakinaka telephone exchange lane, Opp. Andheri Kurla Road, Sakinaka, Andheri(E), Mumbai- 400 072
Listings BSE & NSE.

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Financial Highlights

FINANCIAL HIGHLIGHTS FOR QUARTER ENDED SEPTEMBER - 2011

 
Particulars
SEPTEMBER - 11
( Rs. / Lacs )
Sanctions
25596
Disbursements
23781
Total Income
10544
Total Expenditure
9374
PBT
1170
PAT
930
Equity
5385
Reserves
-
EPS ( Rs. )
1.73

Financial Highlights Last Ten Years (Rs/lacs)
Particulars 01-02 02-03 03-04 04-05 05-06

06-07

07-08

 08-09 09-10 10-11 Apr-Sept 2011
Sanctions 25743  33285  55075  80461 31889 59446 78832 61998 77757 106935 50345
Dis-bursements 22536  29559  44881  65923 37282 52159 71844 60105 67281 96894 46909
Total Income 9237 9753 10010 12561 15686 19715 27480 31249 31111 33987 20800
Total Expenditure 9069 8993 8552  10487 11533 13384 19703 23456 21923 24268 17250
PBT 168  760 1458 2074  4153  6331 7777 7793 9188 14567 3550
Profit on Sale of Long Term Investment -  - - -  -  - - - - 8848 -
Less:Additional Provision for Contingencies -  - - -  -  - - - - 4000 -
PAT 120 661 1112 1776 3309 5007 5604 5714 6709 11376 2686
Equity 1797 1797 1797 2692 2692 5385 5385 5385 5385 5385 5385
Reserves 6563 6978 7785  9653 12041 23128 26247 29429 33313 41248 -
EPS(Rs) 0.67 3.67 6.17 7.6 12.29 9.95 10.47 10.59 12.46 21.13 4.99
Dividend(%) 10 12.5 15 15 15 30 40 40 45 55 -

GIC HOUSING FINANCE LTD.

Regd. Office : 3rd Floor, Universal Insurance Bldg. Sir P.M. Road, Fort, Mumbai - 400 001

Unaudited Financial Results for the quarter/nine months ended  31st December,2011
(Rupees in Lacs)
Particulars
 Quarter ended on Nine months ended on Year ended on
31.12.2011 31.12.2010 30.09.2011 31.12.2011 31.12.2010 31.03.2011(Audited)
Income from Operations 10855 8303 10083 30588 24275 33053
Other Operating Income (Investment Income) 374 205 461 1441 567 934
Total Income  11229 8508    10544     32029     24842     33987
Expenditure
- Interest Expenditure  8113 5724 7687 22820 15276 21483
- Staff Expenses  240 339    208    732    696    1074
- Other Expenditure 1252 430   1460   3266   1491   1638
- Depreciation & Amortisation  20 17    19    57    49    73
Total Expenditure  9625 6510    9374    26875    17512    24268
Profit from Operations before Other Income & Exceptional Items  1604 1998      1170      5154      7330      9719
Profit on Sale of Long Term Investments     - 8848 - - 8848 8848
Less: Additional Provision for Contingencies - 4000  -  -  4000  4000
Profit from ordinary activities before Tax 1604  6846  1170  5154  12178  14567
Provision for Tax 620  2435  580  1875  3925  4510
Deferred Tax (Asset) / Liability (236)  (1324)     (340)     (627)     (1465)     (1319)
Net Profit after Tax 1220   5735   930   3906   9718   11376
Paid up Equity Share Capital (Face Value Rs 10/-) 5385  5385   5385  5385   5385   5385
Reserves as at 31st March  -  -    -    -    -     41248
Earning Per Share(EPS)
(a)Basic and Diluted Earning Per Share before Extraordinary items for the period, for the year to date and for the previous year(Rs.) 2.27 10.65 1.73 7.25 18.05 21.13
(b)Basic and Diluted Earning Per Share after Extraordinary items for the period, for the year to date and for the previous year(Rs.) 2.27 10.65 1.73 7.25 18.05 21.13
Public shareholding:
- Number of Shares 30722818 29486496 30722818 30722818 29486496 29486496
- Percentage of Shareholding 57.05 54.76 57.05 57.05 54.76 54.76
Promoters and promoter group Shareholding
a) Pledged/Encumbered
-Number of Shares NIL NIL NIL NIL NIL NIL
-Percentage of Shares(as a % of the total share holding of promoter group) NIL NIL NIL NIL NIL NIL
-Percentage of Shares(as a % of the total share capital of the Company) NIL NIL NIL NIL NIL NIL
b) Non-encumbered
-Number of Shares 23128248 24364570 23128248 23128248 24364570 24364570
-Percentage of Shares(as a % of the total shareholding of promoter group) 100 100 100 100 100 100
-Percentage of Shares(as a % of the total share capital of the Company) 42.95 45.24 42.95 42.95 45.24 45.24
Notes:
1. The Company's main business is to provide loans for the purchase or construction of residential units. Hence, there are no separate reportable segments as per Accounting Standard on Segment Reporting (AS 17) issued by the Institute of Chartered Accountants of India and notified under the Companies (Accounting Standards) Rules, 2006.
2 (i) National Housing Bank (NHB) has revised upward its provisioning requirements in respect of Non Performing Assets and introduced provisioning requirements for Standard Assets in respect of Individual Housing Loans effective 5th August 2011.
(ii) 'Other Expenditure' for the quarter ended 31st December, 2011 includes provision for contingencies amounting to Rs. 726 Lacs (Previous period release of Rs. 15 Lacs) and Rs. 1927 Lacs (Previous period Rs. 280 Lacs ) for the nine months ended 31 st December, 2011. The Company continues to be compliant with the provisioning requirement specified by NHB.
3. There were no Investor complaints pending as on October 1st, 2011. During the quarter, the Company received 7 Investor complaints, all of which have been resolved by the end of this quarter. There are no complaints pending as on 31st December, 2011.
4. Figures for the previous period have been regrouped wherever necessary.
5. The above results for the quarter/nine months ended 31st December, 2011 have been subjected to a "Limited Review" by the Auditors of the Company and were reviewed and recommended by the Audit Committee of Directors and approved by the Board of Directors at its meeting held on 24th January, 2012,in terms of Clause 41 of the Listing Agreement.
 
On Behalf of the Board
 
 
 
 
Place : Mumbai A.K. Roy
Date : 24th January, 2012 Chairman


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